sec.109Preparation of financial statements and accounts

### sec.109 Preparation of financial statements and accounts A primary licensee must prepare financial statements and accounts as required by this section giving a true and fair view of the licensee’s financial operations conducted under the primary licence. Maximum penalty—40 penalty units. The financial statements and accounts must include the following— trading accounts, if applicable, for each financial year; profit and loss accounts for each financial year; a balance sheet as at the end of each financial year. s 109 amd 2007 No. 22 s 3 sch 1 (sec.109-ssec.1) A primary licensee must prepare financial statements and accounts as required by this section giving a true and fair view of the licensee’s financial operations conducted under the primary licence. Maximum penalty—40 penalty units. (sec.109-ssec.2) The financial statements and accounts must include the following— trading accounts, if applicable, for each financial year; profit and loss accounts for each financial year; a balance sheet as at the end of each financial year. - (a) trading accounts, if applicable, for each financial year; - (b) profit and loss accounts for each financial year; - (c) a balance sheet as at the end of each financial year.